Business registrations in June up 10% on better economy

PUBLISHED ON TUE, JUL 18, 2017 5:50 AM

Business registrations in June up 10% on better economy

 

BANGKOK, 18 July 2017 (NNT) – The June number of business registrations posted a 10 percent increase year-on-year due to economic recovery and higher confidence among entrepreneurs. 

According to Director-General of the Department of Business Development Banjongjitt Angsusingh, a total of 6,525 new businesses were registered with the department in June this year, equivalent to a 10 percent jump from the same period of 2016. The combined amount of registered capital was more than 40 billion baht. The surge is believed to have resulted from operators’ returning confidence in the economy. 

Thanks to the government’s infrastructure projects, the construction sector accounted for the majority of new businesses for the fifth month in a row. Other sectors seeing high registration rates during the month included real estate, jewelry retail, restaurants and logistics, respectively. 

For the first six months of 2017, there were 35,942 business openings in total, increasing 13 percent from last year. 

In June, the number of business closures was recorded at 1,548, up 11 percent. Nonetheless, the monthly average during the first half of the year still showed a decline of 5 percent.

 
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-- nnt 2017-07-18
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